Record-Breaking TVL for These 5 Sui Protocols Amid Market Slump
The Total Value Locked (TVL) of several DeFi projects on the Sui blockchain has experienced a significant surge in recent months. Notable projects like Kriya, Bluefin, AlphaFi, Bucket Protocol, and Sparkling Finance have all seen impressive growth.
The expansion of TVL for Bluefin began earlier this month following the launch of its spot trading application and the BLUE token. As a result, Bluefin's TVL has soared from $27 million at the beginning of December to a record $80.7 million.
Bucket Protocol, on the other hand, has nearly doubled its TVL to a record $53 million over the past two months. This growth is partly due to the platform's ability to allow users to mint BUCK, a USD stablecoin with a market cap of nearly $9 million.
Sparkling Finance, a liquid staking and yield application linked to Bucket Protocol, has over $30 million in TVL. The platform's liquidity is primarily dominated by SUI and vSUI, representing SUI staked via Volo.
Kriya, a one-stop DeFi platform for Sui, has also experienced a surge in TVL. From $24 million at the beginning of November, Kriya's TVL has reached an all-time high (ATH) of $84 million. The Kriya ecosystem includes an automated market maker (AMM) DEX, a yield farming application, and a derivative trading platform.
Sui's overall DeFi and NFT ecosystem has been expanding significantly, with the entire Sui blockchain TVL surpassing $2 billion as of mid-2025, indicating strong on-chain activity and liquidity inflows supporting these projects. This growth is driven by several key factors, including rapid ecosystem growth and adoption, surge in user activity, institutional interest and technical bullishness, innovations and partnerships in DeFi, favourable technical indicators and developer momentum.
AlphaFi, a yield farming protocol for Sui, launched in mid-July this year. Its TVL has increased from $30 million at the beginning of November to over $75 million. Users can deposit multiple tokens, including SUI, USDC, ALPHA, BLUE, and vSUI, on Bucket Protocol to earn APY figures. Users can also deposit BUCK on Sparkling Finance to get sBUCK, a yield-bearing token.
Moreover, sBUCK can be used across Sui's DeFi ecosystem, further increasing the liquidity and engagement within the Sui DeFi space.
The rise in TVL for these Sui-based DeFi projects is rooted in the broader Sui ecosystem’s rapid user base and liquidity expansion, increasing institutional interest validated by regulatory progress, and ongoing technical and ecosystem improvements that drive deeper engagement and capital locking.
Financing opportunities in the DeFi space on the Sui blockchain have attracted attention, as several projects like AlphaFi, Bluefin, Bucket Protocol, Kriya, and Sparkling Finance have experienced substantial growth in their Total Value Locked (TVL). For instance, Bluefin's TVL soared from $27 million at the beginning of December to a record $80.7 million, following the launch of its spot trading application and the BLUE token.
The news of these investments in technology-driven DeFi projects on Sui has sparked interest in the finance sector, as the overall TVL for the Sui blockchain's DeFi and NFT ecosystem surpassed $2 billion by mid-2025, indicating strong on-chain activity and liquidity inflows.
